I understand why the perk was nerfed in the first place. NF/Luna's was way too easy to use and lethal on console. Easy weapons shouldn't be the best across the board. I get that. That was actually one of the main reasons why I personally thought it needed a nerf and didn't use mine after I got it when Forsaken launched.
However, the nerf made NF useless in PvE. It's still a really cool HC and I would love to have a reason to use it. I think it needs a middle ground kind of treatment. Let the perk activate on precision hits and buff precision damage on the SAME target. That way, we can chain headshots and do awesome damage in PvE without 2 tapping like madmen in PvP.
Edit: In addition to this, the perk would have to experience damage falloff in PvP so the gun isn't 3 tapping at 40+ meters.
Or the perk could just be balanced separately depending in the game mode, but whatever works. I just think such a cool gun shouldn't be useless in PvE. The nerf was honestly too hard.
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Yet another case of pve VS PvP balancing issues.